New York City is edging toward financial disaster, experts warn

[Cave Savage]

You're confused breh. We are saying the NEW housing they are building in NYC is majority if not all LUXURY targeted. People are holding on to the OLD housing because it tends to be less expensive than the NEW housing. We are saying there is no NEW housing inventory being created that is affordable (when it comes to major cities)

There is actually lot of demand for the old housing, brownstones and limestones are very sought after and cost a lot of money to buy.

But yeah of course developers aren't building affordable housing, humans are greedy by nature and want the most money they can get. That being said, I disagree that everything going up is luxury housing because a lot of houses being built in the outer boroughs are anything but luxury. Southeast Queens is filled with those 4 family Fedders houses.

I'm not sure what can realistically be done, because I don't see the city forcing developers to build truly affordable housing being a thing. It would probably be struck down in court if it even passes in the first place.

 

[Professor Emeritus]

And stop reading the NY Post you stupid c00ns...fukk...nikkas can tell you the last rapper to get his ass beat but can't remember that the NY Post is a conservative bird cage lining

This pissed the hell out of me - literally a right-wing tabloid and fools are posting and believing that crap no questions asked.


NYC is the #1 center of wealth creation in the world. Stock market has been shooting up for almost a decade. The reason they have tax trouble is because those guys are the world's master tax dodgers and NYC has been giving rich people tax breaks and sweetheart deals for decades. But of course a right-wing rag is gonna make it like high taxes and too many services to the poor are the real problem.

 

[Spatial Paradox]

this thread has way too many replies for a NY Post story based on some report by the AIER.

Yeah, I’m going to need a source besides the NY Post before I take a story like this seriously.

 

[ExodusNirvana]

This pissed the hell out of me - literally a right-wing tabloid and fools are posting and believing that crap no questions asked.


NYC is the #1 center of wealth creation in the world. Stock market has been shooting up for almost a decade. The reason they have tax trouble is because those guys are the world's master tax dodgers and NYC has been giving rich people tax breaks and sweetheart deals for decades. But of course a right-wing rag is gonna make it like high taxes and too many services to the poor are the real problem.

Dudes talking about pensions is the problem

You know how long you gotta work for the city to get a pension? And most of the city jobs out there are paying you SIGNIFICANTLY less than the private sector too??

 

[The Fukin Prophecy]

Many of those buildings end up being 80/20 buildings which is one of the city's "solutions" but it's kind of a sham because much of the time (not always) the housing is not actually affordable.

What could realistically be done, more NYCHA towers? Funding for NYCHA has been cut by the federal government and the city government will not have money to pay for such a thing unless they cut spending.

Rent control and affordable housing...

No logical reason why a 1 bedroom apartment should cost 3k...

 

[Nicole0416_718_929_646212]

Well, on the bright side, if New York goes broke & violent crime is going up, then that means that in about 5 years, we gonna get some fire ass Hip-Hop records from the kids growing up in poverty

Dafuq type of shyt is this to say?? How is there a bright side to that? and you thinking that all black kids growing up in NY are from poverty or living in poverty makes for good music. Lot of the rappers are from middle class families.

 

[Nicole0416_718_929_646212]

Rent control and affordable housing...

No logical reason why a 1 bedroom apartment should cost 3k...

amenities and proximity

 

[Cave Savage]

Rent control and affordable housing...

No logical reason why a 1 bedroom apartment should cost 3k...

NYC tried rent control back in the day and it ended up with apartments being arsoned left and right.

I think rent stabilization works better but the problem is that most apartments are relatively expensive to begin with.

 

[The Fukin Prophecy]

NYC tried rent control back in the day and it ended up with apartments being arsoned left and right.

I think rent stabilization works better but the problem is that most apartments are relatively expensive to begin with.

That's what happens when you build for LUXURY instead of AFFORDABILITY...

And these luxury apartments have a domino effect that raises rent all across the board...

This is deliberate...

 

[Wild self]

I hope New Yorkers don't jack up Philly rents. I also hate when people act like Philly is super cheap because it gets more expensive every year. It's pretty much just average American city price now

It's a sick domino effect that will eat up people incomes and virtually have nothing left to save. What good if you make a high income, and cannot save any of it?

 

[Wild self]

I'm not against mass immigration for xenophobic reasons but I don't see it as a good idea when this country's population has increased 3X in just 50 years. More people moving to this country = more demand for housing and higher prices

I blame people having 3 or more kids and raising them in condensed areas. After a certain point, land itself will run out and traffic jams only get slower and more congested.

Higher population = higher cost of living. After a certain point, people will enforce a policy similar to China where they can only have 2 kids per household.

If the population jumps 3x again within the next 50 years, we be close to 1.1 billion people living in America

 

[ExodusNirvana]

amenities and proximity

For the life of me I cannot understand why people don't realize that no one wants to live in West Bumblefukk, Red State as opposed to New York City

I just got back from Orlando two weeks ago...fukking everything closes at like 8 except Inner Room and the only place to get groceries is Wal-Mart and shyt

Get the fukk outta here

 

[UberEatsDriver]

And stop reading the NY Post you stupid c00ns...fukk...nikkas can tell you the last rapper to get his ass beat but can't remember that the NY Post is a conservative bird cage lining

Nypost is kkk

 

[intruder]

As an outsider looking in i'd say this:

• New Yorkers as people have way too many entitlements from all the benefits people get money for while not lifting a finger. SEEMS like everyone is part of a Union or gets some sort of disability benefit.
• The cost of living is outrageous. Not only is it expensive but you're bunched up together like freakin' sardines. Every town home is split into damn near 3 separate apts.
• The taxes are crazy. Read an article the other day about how New York revenue services audit people who claim they no longer reside in NY just to avoid the taxes. Apparently some rich folks in NY claim they reside in FL or TX (no income tax states) to avoid NY taxes. But the NY revenue services audits their home, their phone records, and their travel patterns to prove they really reside in NY. One auditor said they even check their fridge

All this adds up and the extremely large population amplifies it all. I'm sure with the wealthy NYers and corporations they are able to balance it all out to some degree but according to the article they still run on a large deficit. If more corporations get lured away to states like TX and FL i'm betting it's only gonna get worse.

 

[Sonic Boom of the South]

when NY goes everything else follows

No